David Petraeus joins private equity firm KKRMay 30, 2013: 7:02 AM ET
Former CIA director joins private equity firm.
FORTUNE -- Former CIA director and retired military general David Petraeus has joined private equity firm Kohlberg Kravis Roberts & Co. (KKR) as chairman of a group that will "study macroeconomic trends and government policies to assess their implications on the firm's investments."
He also will advise KKR's investment teams on due diligence, particularly in emerging markets.
The new effort is called KKR Global Institute, and is KKR's latest step toward institutionalizing stakeholder engagement and public policy considerations. The New York-based firm was among the first to formalize an ESG (environmental, social and governance) policy, and in 2008 hired former Republican National Committee chair Ken Mehlman to lead its public affairs effort.
Mehlman will work alongside Petraeus on KKR Global Institute, as will KKR's head of macro and asset allocation Henry McVey.
In a statement, Petraeus said: "I am very pleased to join such a great team. I have watched KKR evolve as it adapted to the post-financial crisis world and became a go-to partner for companies worldwide. I look forward to supporting the investment teams in their pursuit of the best opportunities for clients and also being a part of a new initiative to provide additional insights to KKR's clients and companies."
Petraeus and KKR co-founder Henry Kravis have known each other for years via the Council of Foreign Relations, and reportedly have been in talks since early this year about how they might work together. The pair posted a video conversation that can be found here.
Petraeus stepped down as CIA director last November, following the revelation of an affair with his biographer.
KKR currently has investments in more than 80 companies operating in 19 countries.
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